Oil major Lukoil has chosen Canada-based Renaissance Oil Corp as its partner for operations in the Amatitlán block, located near Poza Rica in Veracruz. A transaction valued at US$1.75 million sees Renaissance acquire an indirect 25 percent interest from Marak, Lukoil’s current partners on the Chicontepec-based block. The transaction is expected to be completed by […]Continue Reading →
Mexico welcomed 2017 with political and civil unrest, as the public reacted with anger to a gasoline price jump of up to 20 percent in some areas. The increase, enforced on January 1, saw domestic gasoline prices become more aligned with international ones.
President asks public for understanding
As marches and instances of […]Continue Reading →
President-elect Donald Trump is expected to name the CEO of US oil heavyweight Exxon Mobil Corp as the country’s next Secretary of State. Although Trump has yet to officially confirm Rex Tillerson for the appointment, sources close to the Republican transition team claim the decision has already been made, several news outlets reported.
On Sunday, […]Continue Reading →
Oil prices highest since 2015 as producers agree to cut
Oil rose to an 18-month high on Monday after global oil producers agreed to cut production at the end of November. The Organization of Petroleum Exporting Countries will produce 1.2 billion fewer barrels a day starting from January 2017.
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